The Banks Are Dead.!

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RetroRik
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The Banks Are Dead.!

Post by RetroRik » Fri Jun 22, 2012 7:49 pm

Honestly.

First the countries get downgraded and are in so much debt they can never, NEVER get out of it.

The key players are using this for closer financial and political union. Basically a couple of countries will have great control over many others.

Now the banks are being downgraded.! They are dead.!

I hope none of you have mortgages with the banks in question because your interest rates are going to go up.
Also any savings with them are going to return next to nothing.

http://www.youtube.com/watch?feature=pl ... IFAgj4OIpw

Now for the first time ever 12 million bank customers in the UK cannot access their money this weekend due to a minor glitch... MINOR GLITCH.! What.? My son and everyone that works with him did not get paid because of this Minor Glitch.

How many direct debits will be kicked back.? How many charges will be incured.? How many cars are not insured because the monthly payment didn't go through.? How many credit ratings will be effected.?

Doesn't this bother anyone.?
Have we all finally been brainwashed into not being bothered by such things as long as Big Brother is on at 9pm.?

Ask yourself one thing..

The whole world is in debt and basically in the sh1t.. Who does the whole world owe the debt too.? Who.?
Aliens in the Bank Of Mars.? Why doesn't the whole world just stop paying and wipe the slate clean.? Why.?

I will be paying off my mortgage this month and i am so glad. Had enough of this debt controlled society.

As you can tell i am a bit angry about all this. I've looked into it and outside the mainstream media it is grim.
We have been taken for mugs for a long time. Compound Interest on loans is money made up from thin air for God's sake. :evil:

Real paper money will be gone soon and all money and its debt will be made up of pixels on a screen.

2012 the end of the world.? Well maybe for the financial world as we know it, yes.

Rant over.... Sorry.

RIK
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resident paul
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Re: The Banks Are Dead.!

Post by resident paul » Fri Jun 22, 2012 7:57 pm

I'm with you Rik so let's bring back the pay-packet!
At least the Banks can't screwed you & get paid every week!
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Re: The Banks Are Dead.!

Post by RetroRik » Fri Jun 22, 2012 8:00 pm

resident paul wrote:I'm with you Rik so let's bring back the pay-packet!
At least the Banks can't screwed you & get paid every week!
Ah the pay packet. When i started work at 17 i used to get one of them... :) Real money in your pocket.
Felt good. Now i have a bit of plastic. Feels plasticy.

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Re: The Banks Are Dead.!

Post by DPrinny » Sat Jun 23, 2012 3:23 am

RetroRik wrote:
resident paul wrote:I'm with you Rik so let's bring back the pay-packet!
At least the Banks can't screwed you & get paid every week!
Ah the pay packet. When i started work at 17 i used to get one of them... :) Real money in your pocket.
Felt good. Now i have a bit of plastic. Feels plasticy.

RIK
Hard to keep track of what you got when you cant see how much by looking in your wallet

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Re: The Banks Are Dead.!

Post by pratty » Sat Jun 23, 2012 3:25 am

I agree, though the current money/banking system will be propped up for a long it can, because the banks and colluding governments have no interest in replacing it. Have you noticed how every proposed "solution" is a short term fix, rather than a long term replacemnt?

I'm not saying I've got all the answers but you'd think all these clever economists could come up with a better way of doing things that benefits everyone not just the banksters. And no, I'm not taking about socialism.

For anyone interested here's a good analogy explaining money, banking and how the banks got so rich and powerful:
http://www.diametrics.info/audio/Wheat_ ... s_1971.mp3

And for a more detailed look.
http://www.diametrics.info/audio/Bruce_ ... 4_FULL.mp3
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Re: The Banks Are Dead.!

Post by Scapegoat » Sat Jun 23, 2012 3:51 am

RetroRik wrote:
I hope none of you have mortgages with the banks in question because your interest rates are going to go up.
Also any savings with them are going to return next to nothing.

Err... if interest rates are going up, savings will benefit, what's far more of a concern is inflation which is still pretty low.
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Re: The Banks Are Dead.!

Post by The Angry Jock » Sat Jun 23, 2012 5:00 am

RetroRik wrote:Why doesn't the whole world just stop paying and wipe the slate clean.? Why.?
If all banks where to fail with no financial aid from Government (as they have no money and can't now borrow any) then responsible people with savings will lose everything meanwhile irresponsible debtors get away scottfree...completely immoral. This catastrophic manoeuvre would also be the nail in the coffin for pensions as their value would be instantly wiped out.

I detest the banks as much as the next man (I also don't beleive the bankers created the recession nonsense) but we have no choice but to use them. It's be lovely getting your pay in an envelope on a Friday but I imagine you'd see a sharp increase in tax evasion as there's less of a paper trail. No one would have savings as with no interest your money loses value over time. There's much more to it than we can imagine.
RetroRik wrote:The key players are using this for closer financial and political union. Basically a couple of countries will have great control over many others.
The Germans "lost the battle but won the war" ;)
RetroRik wrote:The whole world is in debt and basically in the sh1t..
The whole world is not in debt, you aren't...

(see below)
RetroRik wrote:I will be paying off my mortgage this month and i am so glad.
RetroRik wrote: Had enough of this debt controlled society.
So have I, got a small bit on a 0% card and the mortgage. No more for us after clearing 40k in 4 years.
RetroRik wrote:2012 the end of the world.? Well maybe for the financial world as we know it, yes.
Will never happen.
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Re: The Banks Are Dead.!

Post by The Angry Jock » Sat Jun 23, 2012 5:11 am

pratty wrote:I agree, though the current money/banking system will be propped up for a long it can, because the banks and colluding governments have no interest in replacing it. Have you noticed how every proposed "solution" is a short term fix, rather than a long term replacemnt?
Blame the voting public, mainly looking at Labour and unions here.

2 years the coalition have been running things, 2 years! That's no time at all. It makes me angry to see that rubber face goon Milliband* and his lapdog Balls talking about how we aren't out of the mess, the mess being the greatest financial meltdown the world has ever seen created on the watch of their predecessors. Things take time and the problem is that the Goverment only has 5 years to impliment it's policies and show they work otherwise the shortsighted, greedy voters swings the other way. It's going to be the next decade before things start getting "back to normal", we just need to be less complacent and reliant on debt.

Another major problem is that we have a coalition Government, with 2 parties you have to negotiate everything so things are slowed down even more so. It makes me laugh when you see students on the TV saying that the Lib Dems are sellouts because they can't implement their policies...the LDs are a minority partner so that's never going to happen, at least the tax threshold is moving in the right direction.

* a man leading a party with no policies whatsoever, incredible!
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Re: The Banks Are Dead.!

Post by merman » Sat Jun 23, 2012 5:19 am

But the Tories only seem to have one policy - blame Labour for the deficit.

The low economic growth will continue while Osborne persists with 20% VAT and trying to pay off the deficit before the next election. He's not thinking long term, just about securing another term for the Conservatives to cut public spending.

As for the banks, blame both sides for failing to regulate them properly. And blame the Tories for allowing building societies to turn into banks. And blame the American banks for all the high-risk loans. And whoever came up with the idea of being able to trade liabilities/debt which sent Nortern Rock under.

But don't worry, I'm sure our leaders will soon jet off to another summit meeting put on at huge expense to say that the problem will be solved...
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Re: The Banks Are Dead.!

Post by sscott » Sat Jun 23, 2012 5:29 am

..and blame a lot of us too!* "It's the banks fault they loaned me all that money!" :?

* not everyone of course!
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Re: The Banks Are Dead.!

Post by The Angry Jock » Sat Jun 23, 2012 5:38 am

merman wrote:But the Tories only seem to have one policy - blame Labour for the deficit.
An so they should. Why was the country run at a loss for the last 10 years of the Labour government? A period of time when this country went through a virtually unpercedented period of growth, do you not think that's the time the people in charge pay down the national debt?

We all understand that this is a worldwide crisis and that there'd have been a recession regardless, what I'm saying is that if Labour had been responsible with it's finances we'd be in a far better position than we are now.
merman wrote:The low economic growth will continue while Osborne persists with 20% VAT and trying to pay off the deficit before the next election. He's not thinking long term, just about securing another term for the Conservatives to cut public spending.
You don't "pay off" a deficit, you pay off a debt. The deficit is the shortfall in annual funding which gets added to the national debt, which is now well over a £1Trillion. I think people focus too much on the deficit, if we paid off the debt we'd saves 10's of billions a year on interest alone, but we're talking such a vast amount of money now it's our children and grandchildren who'll be working til 90 to pay it off...f*ck them ay :wink:

Cameron is thinking long term when it comes to the Public Sector, it needs reduced in size, it's needs it's pensions brought in line with the other 90% of the working population and most of all it need to be simplified. Labour created a total mess of red tape and non-jobs, all time consuming and expensive to deal with.

As for 20% VAT, that was Labour who implemented that wasn't it? The 15% rate was always temporary. The Tories want to reduce tax rates but it can't. Saying if you reduce VAT to 15% then people will buy more is a fallacy because people aren't spending due to fear of losing their job/ home not because goods are too expensive.
merman wrote:As for the banks, blame both sides for failing to regulate them properly. And blame the Tories for allowing building societies to turn into banks. And blame the American banks for all the high-risk loans. And whoever came up with the idea of being able to trade liabilities/debt which sent Nortern Rock under.
I agree, both side are to blame, everyone's to blame, we all took advantage of it.
merman wrote:But don't worry, I'm sure our leaders will soon jet off to another summit meeting put on at huge expense to say that the problem will be solved...
Too true :lol:
Last edited by The Angry Jock on Sat Jun 23, 2012 5:42 am, edited 1 time in total.
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Re: The Banks Are Dead.!

Post by pratty » Sat Jun 23, 2012 5:41 am

The Angry Jock wrote:
RetroRik wrote:Why doesn't the whole world just stop paying and wipe the slate clean.? Why.?
If all banks where to fail with no financial aid from Government (as they have no money and can't now borrow any) then responsible people with savings will lose everything meanwhile irresponsible debtors get away scottfree...completely immoral. This catastrophic manoeuvre would also be the nail in the coffin for pensions as their value would be instantly wiped out.
Simplistically speaking, perhaps rather than going back to zero, if we eliminate debts while people's savings were to remain as they are, then a smoother carry over to a new system would stand a better chance. I fully appreciate that it isn't fair for people who have lived on borrowing to come out of it better of than those who haven't, but surely that short term injustice is preferable to continuing the current system, which at best is widely considered a "necessary evil"?
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Re: The Banks Are Dead.!

Post by The Angry Jock » Sat Jun 23, 2012 5:44 am

pratty wrote:Simplistically speaking, perhaps rather than going back to zero, if we eliminate debts while people's savings were to remain as they are, then a smoother carry over to a new system would stand a better chance. I fully appreciate that it isn't fair for people who have lived on borrowing to come out of it better of than those who haven't, but surely that short term injustice is preferable to continuing the current system, which at best is widely considered a "necessary evil"?
Why should people have their debts wiped clean?
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Re: The Banks Are Dead.!

Post by pratty » Sat Jun 23, 2012 6:07 am

The Angry Jock wrote:
pratty wrote:Simplistically speaking, perhaps rather than going back to zero, if we eliminate debts while people's savings were to remain as they are, then a smoother carry over to a new system would stand a better chance. I fully appreciate that it isn't fair for people who have lived on borrowing to come out of it better of than those who haven't, but surely that short term injustice is preferable to continuing the current system, which at best is widely considered a "necessary evil"?
Why should people have their debts wiped clean?
Because we can't pay it all. It would seem there is more debt than the money to pay it.

"I have argued that the real national debt is about $130 trillion. Let’s say I’m being pessimistic. Forbes, in a 2008 article, came up with a lower number: $70 trillion. Let’s say the sunny optimists at Forbes got it right and I got it wrong."

"For perspective: At the time that 2008 article was written, the entire supply of money in the world (“broad money,” i.e., global M3, meaning cash, consumer-account deposits, checkable accounts, CDs, long-term deposits, travelers’ checks, money-market funds, the whole enchilada) was estimated to be just under $60 trillion. Which is to say: The optimistic view is that our outstanding obligations amount to more than all of the money in the world."


http://www.nationalreview.com/exchequer ... ney-world#
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Re: The Banks Are Dead.!

Post by The Angry Jock » Sat Jun 23, 2012 6:12 am

Then do you not think people should pay what they can afford rather than just give them a free pass?

Writing debt off means that it'll only happen again as people will think they really don't have to be responsible for their actions.
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